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...Apollo has sold a stake in the lending business it acquired from Credit Suisse last year shortly before the Swiss bank’s shotgun rescue by UBS, securing a multibillion-dollar investment from one of the US...
...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...The UK nonprime lending market — which lends to riskier customers who do not have good credit scores — has shrunk by more than a third since 2019, according to a study by credit check provider ClearScore...
...There will also be an undisclosed amount of debt financing provided by a group of private lenders including Blackstone Credit, HPS Investment Partners and Blue Owl Capital....
...Corinthia was publicly launched by Weightman only seven months ago to take advantage of the booming private credit market, which has grown to $1.7tn as many banks retreated from business lending after the...
...Speciality finance lending looks a promising new seam for private credit companies to mine....
...The World Bank said the money could be leveraged to result in a $70bn boost to its lending firepower....
...IFR reports that Morgan Stanley is currently marketing its Morgan Stanley Direct Lending Fund at the moment — eyeing a pricing next Tuesday — while Nuveen Churchill Direct Lending Corp is likely too list...
...In the interview below (conducted prior to Tuesday’s hot inflation numbers), Panossian discusses the case for high-yield bonds, the changing weather in private credit and why banks are increasingly lending...
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...“Private credit typically involves lending to unrated or unlisted companies and is therefore less transparent,” he says....
...Blackstone’s Steve Schwarzman noted last year that lending at 12 per cent on a senior secured basis was easy money. Traditional bank lending, however, retains advantages....
...But the direct lending funds they manage may begin to post lower returns, investors said....
...to, other forms of lending such as high-yield bonds,” we wrote....
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...Citi and Wells Fargo also recorded drops in lending. The pullback in lending hit JPMorgan Chase particularly hard....
...card, internet and mobile banking services....
...The New York Department of Financial Services also has no registration for BetterMed....
...Still, buyers’ remorse often sets in when the credit card bill arrives....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...The UK nonprime lending market — which offers loans to riskier customers with average to low credit scores — has shrunk by more than a third since 2019....
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...Insurance regulators, for example, have been investigating potential credit rating arbitrage by private capital firms. Here, CLO tranches can get a better credit rating than underlying loans....
...further into lending and debt investments that are benefiting from higher interest rates....
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